ATSOURCE FOODS LIMITED

💤Zombieactive
04772374 · ltd · incorporated 2003-05-21
Investment thesis
Zombie company — trading but stalled; unlikely mover.
Why interesting: Quiet, steady; could be a succession or carve-out candidate with the right conversation.
Why risky: No growth signal; thin margin for error on price.
🔒Estimated value
—
Upgrade to see
Turnover
—
year to Mar 2025
Net worth
—
book net assets
Opportunity
79/100
Strong
🔔
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What this business does
Primary activity: SIC 46170
Sector: Wholesale & retail
Investor take
Pursue
Strong opportunity: active trading company with strong profile and bankable structure.

Opportunity 79/100 (strong), bankability 85/100. Strong seller-intent signal (80/100, director aged 59). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Broaden director team. Sole director creates succession risk and reduces buyer comfort. Appoint a second director or strong #2. Most likely exit: share sale to pe / searcher (73/100).

🏦

Refinance opportunity

3 live charges · 2 lenders · oldest 14.6y

30/100
under pressure

Refinance would be pressure-driven, not opportunity-driven. Expect tighter margins and covenant scrutiny.

  • · Oldest live charge is 14.6 years old — likely at or near maturity.
  • · Two lenders — manageable, but coordination required.
  • · Distress signals active — lender appetite narrows.

Data confidence

Overall: medium (79/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
2 years of iXBRL accounts extracted (YoY deltas available) + narrative notes parsed
75
Lenders & charges
3 charges (3/3 with lender, 3/3 with type)
90
Directors & officers
10 officers (2 active, 10 linked, 4 with DOB)
78
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
4 connected companies via shared directors
57
Filing history
91 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
79/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
80
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Key financials

2 years extracted from filed iXBRL accounts
Cash
—
Net Worth
—
Current Assets
—
Current Liabilities
—
£0£0£0£0£0£0Mar 2024Mar 2025

Hover to see exact values · click legend to toggle series

Financials

Extracted from Companies House accounts · FRS 102
Metric2025-03-312024-03-31

Amounts extracted automatically from iXBRL. Fields left blank were not reported or not mapped. Values in GBP unless stated.

🔒Filing-note intelligence

1 signal detected in this company's narrative notes — going-concern language, audit opinion, contingent liabilities, related-party transactions.

Available from the Pro tier upwards.

See pricing →

Recent activity

Last 30 days
1
filing
  • • 1 confirmation-statement
Last 90 days
1
filing
  • • 1 confirmation-statement
Last 180 days
2
filings
  • • 1 confirmation-statement
  • • 1 accounts
Counts from Companies House filing history.
Corporate timeline (40 events)Click to expand
  1. 2025-12-09
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  2. 2024-11-22
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  3. 2024-05-17
    📄
    change-person-director-company-with-change-date
    officers · CH01
  4. 2024-05-17
    📄
    change-person-director-company-with-change-date
    officers · CH01
  5. 2023-12-19
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  6. 2022-12-23
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  7. 2021-12-23
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  8. 2020-12-30
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  9. 2019-12-23
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  10. 2018-12-04
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  11. 2017-12-14
    📄
    accounts-with-accounts-type-unaudited-abridged
    accounts · AA
  12. 2017-05-11
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  13. 2017-05-11
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  14. 2017-05-11
    📄
    mortgage-satisfy-charge-full
    mortgage · MR04
  15. 2017-05-11
    🔓
    Charge satisfied #2
  16. 2017-05-11
    🔓
    Charge satisfied #3
  17. 2017-05-11
    🔓
    Charge satisfied #1
  18. 2016-10-17
    📄
    accounts-with-accounts-type-total-exemption-small
    accounts · AA
  19. 2014-10-31
    ➕
    SHEPPARD, James Fairclough appointed
    secretary
  20. 2014-10-31
    ➖
    KITT, Richard John resigned
    secretary
  21. 2014-10-30
    ➖
    JEYES, Alan Leonard resigned
    director
  22. 2014-06-24
    ➖
    HERNANDEZ, Jeronimo Rodenas resigned
    director
  23. 2014-06-24
    ➖
    RODENAS BALIBREA, Jose Antonio resigned
    director
  24. 2012-08-22
    ➕
    HERNANDEZ, Jeronimo Rodenas appointed
    director
  25. 2012-08-22
    ➕
    JEYES, Alan Leonard appointed
    director
  26. 2012-03-01
    ➕
    KITT, Richard John appointed
    secretary
  27. 2012-03-01
    ➖
    TEMPLE, Karen Elizabeth resigned
    secretary
  28. 2011-12-21
    🔒
    Charge registered #2
    Lender: Hsbc Bank PLC
  29. 2011-12-16
    🔒
    Charge registered #3
    Lender: Hsbc Bank PLC
  30. 2011-11-01
    🔒
    Charge registered #1
    Lender: Hsbc Invoice Finance (UK) LTD ("the Security Holder")
  31. 2009-12-16
    ➕
    RODENAS BALIBREA, Jose Antonio appointed
    director
  32. 2005-05-06
    ➖
    DOWNS, Michael Charles resigned
    secretary
  33. 2005-05-06
    ➕
    TEMPLE, Karen Elizabeth appointed
    secretary
  34. 2003-07-07
    ➕
    SHEPPARD, James Fairclough appointed
    director
  35. 2003-07-07
    ➕
    DOWNS, Michael Charles appointed
    secretary
  36. 2003-07-07
    ➖
    SEVERNSIDE SECRETARIAL LIMITED resigned
    corporate-nominee-secretary
  37. 2003-07-07
    ➖
    SEVERNSIDE NOMINEES LIMITED resigned
    corporate-nominee-director
  38. 2003-05-21
    🏢
    Company incorporated
    As ATSOURCE FOODS LIMITED
  39. 2003-05-21
    ➕
    SEVERNSIDE SECRETARIAL LIMITED appointed
    corporate-nominee-secretary
  40. 2003-05-21
    ➕
    SEVERNSIDE NOMINEES LIMITED appointed
    corporate-nominee-director

Owner dependency

93/100
Critical — business is the founder

The business appears inseparable from the founder. Acquisition without a serious earn-out or meaningful transition period would likely destroy value.

FACTORS
  • +Sole director: Only one active director — all governance concentrated on one person.
  • +Long-tenure founder: Senior director has been in place 23 years — deep operational knowledge concentrated in one person.
  • +Senior director age: Director aged approximately 59 — approaching natural succession window.

Succession & seller-readiness

85/100
Likely off-market candidate

Strong acquirability signals converging. Worth approaching directly — this is how off-market deals start.

SIGNALS
  • secondaryFounder aged 58+: Senior director is approximately 59. Early succession window.
  • primarySole active director: Only one director in control. No visible successor — buyers solve the succession problem.
  • primary20+ year tenure: Director in role 23 years. Very long tenure is a classic succession signal.
  • secondaryStable-but-static management: Company is 23 years old and no new directors in the last 3 years — succession not yet being planned internally.
  • supportingClean filings + long tenure: Disciplined long-tenure operator — classic lifestyle-business pattern that often sells quietly.

Red flags

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
Mr James Fairclough Sheppard
Individual · British · DOB 06/1967 · age 59
75–100%
75–100%board control75-100% shares · 75-100% voting · board control21/05/2017

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

🔒Co-director network graph

Radial SVG graph showing every company connected via shared directors, colour-coded by status.

Available from the Pro tier upwards.

See pricing →

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00304972 · est 1935 · no financials extracted
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16287141 · est 2025 · no financials extracted
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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

7 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.

Available from the Pro tier upwards.

See pricing →
🔒Advanced scoring suite

Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.

Available from the Pro tier upwards.

See pricing →

Company details

Statusactive
Typeltd
Incorporated2003-05-21
Jurisdictionengland-wales
Primary SIC46170 — SIC 46170

Registered office

Wesley House
Bull Hill
Leatherhead
Surrey
KT22 7AH

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2027-05-15
Last: 2026-05-01

Officers (2 active · 8 resigned)

SHEPPARD, James Fairclough→
secretary · appointed 2014-10-31
View their other companies + combined net worth →
Active
SHEPPARD, James Fairclough→
director · ~59y · appointed 2003-07-07
View their other companies + combined net worth →
Active
DOWNS, Michael Charles→
secretary · appointed 2003-07-07 · resigned 2005-05-06
Resigned
KITT, Richard John→
secretary · appointed 2012-03-01 · resigned 2014-10-31
Resigned
TEMPLE, Karen Elizabeth→
secretary · appointed 2005-05-06 · resigned 2012-03-01
Resigned
SEVERNSIDE SECRETARIAL LIMITED→
corporate-nominee-secretary · appointed 2003-05-21 · resigned 2003-07-07
Resigned
HERNANDEZ, Jeronimo Rodenas→
director · ~89y · appointed 2012-08-22 · resigned 2014-06-24
Resigned
JEYES, Alan Leonard→
director · ~79y · appointed 2012-08-22 · resigned 2014-10-30
Resigned
RODENAS BALIBREA, Jose Antonio→
director · ~60y · appointed 2009-12-16 · resigned 2014-06-24
Resigned
SEVERNSIDE NOMINEES LIMITED→
corporate-nominee-director · appointed 2003-05-21 · resigned 2003-07-07
Resigned

Click a director name to see their full track record across all companies.

Mortgages & charges

3
Total charges
0
Outstanding
0
Active lenders
Status:Lender:3 of 3 shown
TypeProperties
satisfied
HSBC
Hsbc Bank PLC
Debenture1 property21/12/201111/05/2017
satisfied
HSBC
Hsbc Bank PLC
Legal assignment1 property16/12/201111/05/2017
satisfied
HSBC
Hsbc Invoice Finance (UK) LTD ("the Security Holder")
Fixed charge on non-vesting debts and floating charge1 property01/11/201111/05/2017

Recent filings (91 total)

confirmation-statement-with-updates
confirmation-statement · CS01
2026-05-11
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2025-12-09
confirmation-statement-with-updates
confirmation-statement · CS01
2025-05-21
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2024-11-22
confirmation-statement-with-updates
confirmation-statement · CS01
2024-05-17
change-person-director-company-with-change-date
officers · CH01
2024-05-17
change-person-director-company-with-change-date
officers · CH01
2024-05-17
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2023-12-19
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-05-03
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2022-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2022-05-12
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2021-12-23
confirmation-statement-with-no-updates
confirmation-statement · CS01
2021-06-01
accounts-with-accounts-type-unaudited-abridged
accounts · AA
2020-12-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2020-06-02